Basic Accounting

In basic accounting, my favourite topic is the Profit & Loss Statement. The topic of profit & loss statement is about an accounting report that shows the profit or loss of business generated during an accounting period. It is my favorite topic because it was fun constructing the table and filling in the figure we have done in the double-entry recording. Every time when the lecturer, Mr. Joe had given us some exercise on this topic, I would feel good if the total of profit or loss that I have counted are right.

On the other hand, the topic which I does not like the most is the Financial Ratios. This topic is about the financial analysis and interpretations, profitability ratios and financial stability ratios whereby these will help the users (e.g. owners, managers, lenders) to focus only on the important information and make business decisions. It is my least favorite topic because it is very hard to remember and memorize all the formula to count the profitability ratios and financial stability ratios, furthermore, I felt that the interpretations are quite confusing. Thus, I had struggled a lot on this topic. If I could make the topic better, I would think of some creative ways for the student to remember all the stuffs that they need to learned. For example, use more creative and daily life examples in the subtopics. In addition, I would also give more exercises to the students for them practice more.

Last but not least, I find that the last topic taught by our lecturer which is about the different forms of ownership are the most useful in my everyday life and also for my future studies. The reason behind this is that in future when I wanted to do a business, I have already understand clearly about the forms of ownership which I can apply for my business and so, I do not have to be afraid about not knowing anything. As for my everyday life, I could help out my parents on their businesses and perhaps this topic can be useful in my future studies as a reference on some subjects that I need to learn.

Finally, I would like express my gratitude to Mr. Joe who are very patient and attentive throughout the semester.

Thank you =)

 Below is the file of The Accounting Ratio Analysis Report.

https://docs.google.com/file/d/0B3jnTpKWw2SjUjctRTdtNzdxbGM/edit